The Surge in Plant-Based Vegan Non-Dairy Products
Coconut Milk: Nature’s Answer to Dairy
Milk choices are no longer limited to the fat percentage and color of the lid or carton (red, green, blue, purple). Options now include organic milk, grass-fed cow milk, and lactose-free milk, among many others. And recently, a growing number of non-dairy milk alternatives are being developed to meet consumers’ ever-changing lifestyles.
Interest in dairy milk is waning as thirst for non-dairy options is growing. According to Nielsen, the total milk market (dairy and non) in the past five years has shrunk by more than $1 billion. Mintel research reveals that non-dairy milk sales have seen steady growth over the past 5 years, growing an impressive 61% since 2012, reaching approximately $2.11 billion in 2017. Non-dairy milk alternatives are experiencing a huge spike in the marketplace while dairy milk declines.
The milk category has been flooded with plant-based alternatives like almond, oat, hazelnut, soy, rice, and coconut. As this category continues to grow, coconut milk is poised and ready to rise to the top. Statistical research done by Statista indicates that the coconut milk market was worth $780 million in 2016, and $830 million in 2017, growing by 6.5%. Now is the time to innovate with coconut milk to ride its growth wave!
Consumers’ desire for plant-based milk options is fueled by an increased focus on health and general wellness, as well as a rising awareness of environmental issues surrounding dairy milk production. When you look at the sustainability of different non-dairy milks, coconut milk compares favorably as it uses less energy and water, and produces fewer greenhouse gases.
iTi Tropicals supplies aseptically packed organic and conventional 24% fat coconut creams that, when combined with water, deliver a delicious and decadent coconut milk. Visit our website to learn more about how our coconut products can expand your product line into coconut milk’s growing market.
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